Flowtech Fluidpower Plc (LON:FLO), the specialist technical fluid power products supplier, announced today that, further to the announcement made on 9 March 2017 entitled “Proposed Accelerated Bookbuild to raise up to £10 million”, the accelerated bookbuild process has now closed. The accelerated bookbuild was successful and the Company has conditionally raised a total of £10 million, subject to inter alia the passing of certain resolutions by shareholders at the General Meeting. The Company will shortly announce the full details of the proposed Placing and post a circular to Shareholders containing these details and convening the General Meeting.
Unless otherwise defined, all capitalised terms in this announcement are defined at the end of the announcement made on 9 March 2017 entitled “Proposed Accelerated Bookbuild to raise up to £10 million”.
Flowtech Fluidpower plc, founded as Flowtech in 1983, is the UK’s leading specialist supplier of technical fluid power products. The Group has three divisions: Flowtechnology, Power Motion Control and Process. All three of the Group’s divisions have overlapping product sets, allowing procurement synergies to be maximised.
